Insurance for ICAEW Members
We're the exclusive, appointed insurance broker for ICAEW members’ professional indemnity (PI), office, and cyber insurance. We’ve worked closely with the ICAEW for more than 15 years, and manage more than 4,300 policies.
We have developed a PI insurance policy that protects members from the specific risks they face as chartered accountants and offers exclusive enhancements. Through Marsh Commercial’s dedicated ICAEW scheme, members can also benefit from an average of 30% savings* on their PI insurance, along with tailored support and advice.
Policy enhancements under the ICAEW scheme
As well as meeting the minimum requirements set out by the ICAEW, the scheme also provides enhanced benefits designed specifically for members, including:
- A six year run-off period available in a block policy
- Cost of court attendance compensation limit is increased for the principal partner, member or director
- Cover for replacing, restoring or reconstituting physical documents
- Circumstances known prior to the inception of the policy period that have not previously reported, are not automatically excluded
- Cover for appointments as a director of a third party company – cover provided is only in relation to services defined by the insurer
- Insurer security termination clause, allowing you to terminate the cover if the insurer’s security rating is reduced
- Joint ventures – limited to acts of the insured only and excludes claims for work carried out by other parties/employees of the joint venture.
Members also benefit from packaged cover that includes PI, office, and cyber insurance, helping to eliminate gaps and overlaps in cover.
*The average saving of 30% is based on an example set of risk information, for sub £100,000 turnover accountancy businesses, undertaking non high-risk accountancy activity. The 30% saving is a demonstration of the premium charged to an accountant fitting this example on the exclusive ICAEW QBE product, when compared to the non-ICAEW QBE equivalent product, for professional indemnity cover only. Actual savings can vary depending on specific risk profile, coverage choices, and other unique risk circumstances.
Get a quote in minutes
Get a quote in minutes and arrange your professional indemnity insurance online – at a time that suits you.
You can also contact our dedicated team of professional indemnity insurance experts. From sole practitioners to firms of five or more members, we take time to understand the risks you face in accountancy and advise on how to manage them.
We're here to make sure you have the right PI insurance to protect you and your business.
Book an online PI review
Is your PI insurance renewal approaching? If so, it’s a good time opportunity to review your current coverage. Book an online PI review appointment with our expert team for a comprehensive assessment of your current coverage to ensure you’re fully protected.
The team behind the scheme
We have a dedicated team, based in Bristol, who are focused on delivering excellent customer service for ICAEW members; from low fee-earning practices to niche and mid-tier firms.
Our team draws on a wide range of expertise and experience to deliver our value proposition and provide support to members. This includes:
- dedicated client advisers providing members with exceptional service, and regional relationship managers offering in-person support
- specialist claims advisers who are on hand to guide members through the claims process
- regular communication to members including news and updates on relevant topics – helping to support them in navigating the increasingly complex risk landscape.
As part of Marsh, a global leader in insurance broking and risk management, we have the ability to evolve as your business grows. We support a full range of accountancy clients, including those members that engage in more complex activities, such as:
- Tax mitigation
- Corporate finance
- Mergers and acquisitions
